Meiji Yasuda Asset Management Co Ltd. Purchases 4,070 Shares of Coterra Energy Inc. (NYSE:CTRA)

Meiji Yasuda Asset Management Co Ltd. lifted its position in Coterra Energy Inc. (NYSE:CTRA) by 15.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,864 shares of the company’s stock after purchasing an additional 4,070 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Coterra Energy were worth $763,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CTRA. Prudential Financial Inc. raised its holdings in shares of Coterra Energy by 53.7% in the 4th quarter. Prudential Financial Inc. now owns 806,426 shares of the company’s stock valued at $20,596,000 after acquiring an additional 281,817 shares in the last quarter. Congress Wealth Management LLC DE increased its position in shares of Coterra Energy by 15.5% in the fourth quarter. Congress Wealth Management LLC DE now owns 42,076 shares of the company’s stock worth $1,075,000 after purchasing an additional 5,649 shares during the last quarter. LPL Financial LLC raised its stake in Coterra Energy by 63.5% in the fourth quarter. LPL Financial LLC now owns 664,401 shares of the company’s stock valued at $16,969,000 after purchasing an additional 258,114 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Coterra Energy during the fourth quarter valued at approximately $18,841,000. Finally, Mizuho Securities USA LLC grew its stake in Coterra Energy by 45.6% in the 4th quarter. Mizuho Securities USA LLC now owns 69,814 shares of the company’s stock worth $1,783,000 after buying an additional 21,876 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Down 1.2 %

NYSE CTRA opened at $28.51 on Friday. The stock has a market cap of $21.79 billion, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The stock has a 50 day simple moving average of $27.93 and a two-hundred day simple moving average of $25.97. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $0.22 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.09%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is 58.28%.

Wall Street Analyst Weigh In

CTRA has been the subject of a number of research analyst reports. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and lifted their price objective for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. Mizuho upped their price objective on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. JPMorgan Chase & Co. decreased their price objective on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Truist Financial upped their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group lifted their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.35.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the transaction, the senior vice president now owns 106,114 shares in the company, valued at approximately $3,086,856.26. This represents a 19.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the transaction, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

About Coterra Energy

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.